Key Insights
- XRP price rebounds strongly after testing the lower boundary of its channel.
- Price holds within the crucial $1.75 to $2.16 support zone.
- A breakout above $2.84 strengthens the odds of a sustained upward structure.
The XRP price has recovered from the bottom of its channel seen in the past few months. Analyst now suggest that the coin could be headed towards the midpoint of the $2.60 price channel. XRP regained its position at about $1.97 in the three-day chart to trade at approximately $2.20. This is 7% higher than the most recent swing low.
The lower boundary is situated slightly below $2.00, while the upper boundary is approximately $3.40. This floor had been tested by Price just over a month ago, toward the end of November. This is after the XRP price fell sharply in the past quarter out of the above levels.
At the beginning of March 2025, XRP rose above $2.10 to over $3.20, and then briefly fell back to the upper band. A significant development occurred between late June and early August, as the XRP price surged by approximately three times, rising from around $2.30 to approximately $3.45.
The present movement resembles the previous behaviour in structure. The price has regained only a quarter of the recent decline between $3.20 and $3.40. The next technical point, according to this setup, is the midpoint of the channel indicated by the analyst at the level of $2.60. It is similar to the previous congestion that had been created over April and May, where XRP traded within the $2.50 to $2.70 band before breaking out.
Sideways Structure Holds Inside $1.75–$2.16 Support Zone
More chart data shows a recent recovery in a broader sideways pattern that has been developing since December 2024. XRP has been swinging back and forth within a support range of $1.75 to $2.16 and a resistance of close to $2.90 on the daily timeframe.
The current region is considered the weak support, largely due to the abnormal price behaviour observed on Friday, 10 October. The intraday lows differed in various exchanges on the same day, which made it difficult to measure Fibonacci accurately. Irrespective of such a difference, the range of $1.75 to $2.16 is the closest structural support on the chart.
The 38.2% retracement lies near $2.17, the 50% level near $2.04, the 61.8% level around $1.92, and the 78.6% level around $1.76. The recent XRP price bounce has taken place in the lower half of this span, an indication of a responded after a deep retracement.
The Elliott Wave chart identifies the new low in the market as a possible wave two in a broader impulsive wave, after an earlier one topped around the $2.90 mark. The bigger pattern involves a completed corrective phase identified as wave C. The wave C ended at approximately $1.20 earlier in the year. Such low was the foundation of the existing cycle, which preceded the XRP price climbing above $3.00 in the middle of the year.
Any upside situation on a higher time frame will be contingent on the future. To ensure the validity of the wave count, XRP would have to construct a clean five-wave rise out of the present zone.
XRP Price Still Getting Massive Interest
Ripple on-chain data shows that the total daily transactions have recently varied between approximately $1.3 million to$ 2.1 million. The metric is up by 22.7% within this window.
There are some occasions when the transaction counts fell at the lower end of the range in late September and mid-October. Nevertheless, they sped up once more in early November, and several peaks of over $1.9 million transactions. We also see one high point of over $2 million transactions. This trend indicates that network usage has been on an upward trend, despite price fluctuations.
Moses K is a crypto journalist covering markets, regulation, and blockchain trends. He has written for The Coin Republic, Coinchapter, Cryptopolitan, Cryptotale, Coinspeaker, and MPost. Known for his concise, data-driven reporting, Moses focuses on price analysis, on-chain metrics, and policy developments shaping the global digital asset landscape.
